Inflation in the United States has been staying low even as gas prices continue to rise. The consumer price index – the primary indicator of inflation – rose just 0.3 percent in March, according to the United States Labor Department. When one excludes food and gas, “core” inflation is up just 0.2 percent for the month.
For the 12 months ending in March, inflation was just 2.7 percent, which is more than a full percentage point lower than the 3.9 percent year-over-year inflation seen at this time last year. The low inflation is good news for those worried that government spending and Federal Reserve monetary activities might cause high inflation, and also good news for workers whose paychecks are not rising and thus cannot easily handle major price increases.
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